Fed prices rise
Strong cattle futures and a moderate Canadian dollar complemented the tight fed supply, pushing prices higher than the previous week.
The average Canfax price on steers was $97.06 per hundredweight, up $1.98, and heifers traded $1.38 higher to average $95.89.
Volume rose five percent to about 18,000 head.
The cash-to-futures basis weakened slightly to $8.61 under compared to $8.50 under the week before.
Fed exports to the United States for the week of March 21 fell two percent from the previous week at 16,707 head. That was steady with the same week last year.
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D1, 2 cow trade in Alberta was $46.75-$60.50 per cwt. with an average of $53.99, up $3.69, Canfax said.
Butcher bulls were $55-$75.50 and averaged $65.26, up $1.66.
Cow slaughter in Alberta is down 28 percent year to date while bull slaughter is up six percent.
Slaughter cow and bull exports for the week ending March 21 were 3,713 head, down from 4,189 head the previous week.
Canfax said there seems to be no end in sight for the butcher cow rally.
The number of available cows is dwindling and with trim product still in high demand, cow trade should continue to trend upward.
A limited number of cows on offer should bring stiff competition.
Butcher bull trade will likely be steady to higher this week.
Feeders stronger
Overall, steers averaged 17 cents higher and heifers were $1.86 higher.
Alberta auction market volume was 13 percent larger at 49,504 head. Year to date, 488,525 head have been auctioned, up 13 percent from last year.
There is no shortage of feeders on offer through auction markets and prices are steady to higher depending on the weight class, except for steer calves, which traded lower.
Not all auction markets have mentioned it, but some feeders are receiving a premium if they are age verified, Canfax said.
Steers 600-800 pounds traded $1.15-$2.30 per cwt. higher and heifers in the same weight range were 80 cents-$2.10 higher.
Steer calves 300-500 lb. were $1.60-$1.95 lower, while heifers traded $1.75-$4.10 higher.
Canadian feeder cattle exports to the U.S. for the week ending March 21 totalled 11,524 head compared to 15,249 head the previous week.
Trade looks like it will trend sideways to higher this week, said Canfax.
Recent large offerings should start to lessen into spring. Feedlots are showing better interest, which should support prices.
Bred cows and heifers traded higher on small offerings.
Bred cows averaged $890, up $66.43, and bred heifers averaged $872.50, up $52.50. Cow-calf pairs were steady at $1,062.50.
Condition and quality will likely determine price direction of bred cows and cow-calf pairs throughout the spring.
Beef price rises
U.S. Choice rose $1.48 to $135.80 US and Select was up 55 cents at $135.18.
Beef trim prices firmed with light to moderate demand and light to moderate offerings.
Canadian AAA cutouts for the week ending March 20 were down $5.54 from the week before. AA cutouts were $11.14 lower.
A weaker Canadian dollar helped the Calgary wholesale price for delivery this week climb by $3 Cdn to $173. Montreal was steady at $178.
Packers will have to increase boxed beef prices this week to realign with higher fed cattle prices.
Byproduct values were $60-$95.
Hog prices steady
Expectations are that pork demand will soon rise seasonally and market-ready hog supply will tighten.
Some believe the cut-out value bottomed for the season at $55 US April 1.
Iowa-southern Minnesota cash hogs were $42 April 3, steady with March 27.
The U.S. pork carcass cut-out value fell to $56.94 April 3, down from $57.54 on March 27.
U.S. federal slaughter to April 4 was estimated at 2.16 million, down from 2.2 million the week before, but 1.5 percent down from the year before.
Bison prices rise
The Canadian Bison Association said the top end of the price range rose a little. Some heifers are getting too heavy.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were $2.40-$2.75 Cdn hot hanging weight. Heifers were $2.30-$2.65 per lb.
Cull cow and bull average rose to $1.15 per lb., with sales to $1.45.
Weight, quality, age and delivery location affect final price.
New lambs steady
Ontario Stockyards reported 3,997 sheep and lambs and 867 goats traded March 30. Well-fed new-crop lambs sold steady. All other classes of lambs were barely steady to lower.
Sheep were barely steady while fat sheep were sharply lower. Goats in the heavier weight classes were steady, while others were barely steady.
